Blue Texel Sheep Society Registratlon number: 1118056 Annual Report and Financial Statements 31 December 2024 dOdd&co
Blue Texel Sheep Society Contents Referen and Administrative Details Trustees, report Trustees, responsibilrties Independent examinerfs report Statement of finanryal activitie$ Balance Sheet Notes to the financial statements
Blue Texel Sheep Society Reference and Administrative Detsils Charity name Blue Texel Sheep Society Charlty reglstratlon nurnb8r 1118056 Principal office Holme House Dale Ainstsble CARLISLE CA4 9RH Registsrnd office Holme House Dale Ainstable CARLISLE CA4 9RH Trustees A Bishop K Coles D A Comiad( M J Davies J Gargett l HaeY M Holmberg H Jewtt R Mawer H Mccurdle M Stephenson Bankers HSBC Middleton Street Llandrinded Wells powys LD15EU Accountsnt D¢Jdd & Co Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW Page 1
Blue T8xel Sheep Society Trustees, Report for the Year Ended 31 Decembep2024 The trustees present their report wth the financial statements of the charity ft)r the. year ended 31st December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charrtie5." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the FIllanal Reporttng Standard applicable in the UK and Republic of Ireland IFRS 102> leffecti14& t January 2019}. OBJECTIVES AND ACTIVITIES Objectlves and aims The Charity's objectives and principal activrties are.. -10 benefit the public by promoting the breeding of Blue Texel sheep and -lo rnaintain the purity of the breed and develop it. The main area of charitable activity are the rna1ntenan of a flod( book of recognised pure-bred sire and the annual registration of the pedigrees of the sheep and to promote the breed wth a view to encouraging involvement from members of the famiing community and public alike and lo.encourage young people to tL)ntinue to ensure the future of the breed and the environment in which it thrives. The prinrypal funding sour5 for the charity are members, subscriptions. ewe and ram registration fees, transfer fees and sale cornmission. Public benefit As trustees of the charity, we have compiled wth the duty in Section 1715} of th'e 2011. Charities Act to have due regard to guidance published by the Charity Comrnission. The charity helps and encourages farmers to keep 81ve Texel sheep by assistsng with information, maintaining a flock book, providing marketing support such as demonstrations, Open days, leaflet$, websf(e and soaal media. The charity meets its charitable obieth'ves via its annual shows and sales, which benefits farmers by maintaining the purity of the breed. The commrttee is keen lo involve young people in the breed and hold an annual Young Handlers competition at the Royal Welsh Show, which has become increasingly well supported. A trophy is also awarded to the young person nominated as having most influence on the breed in the year through showing, helping other rnembers etc. ACHIEVEMENT AND PERFORMANCE Fundraising actlvltles The Sooety membership currently stands at around 819 members, who are currently paying full subscription and registering sheep. The numbers have increased substantially over the past few years. The breed is becoming increasingly more popular in new areas of the county and is attrath.ve to both smallholders and cornmercial breeders due to many faerS wishing for an easy larnbing female. The breed continues to be a main attraction at many of the main ghows and has seen an increase in member showing and shows offering dedicated dasses. The commsttee maintains vigilance of the showng of sheep and the presentation of the breed for both breed type and any activities which they consider detrimental to the breed. members or the society. Anyone found to be contrary to the benefit of the members and or the breed is dealt with in and advisory way or through our Newsletter and anyone conts"nuing to use Unaptab1e pradise is dealt with by the society committee as they see fit. The annual sales continue to attract a good selection of sheep for all buyers but there is Still an issue with the breed type being complied with and will continue to be monitored. The website is kept up to date and members received infomiation via the website, f?bOOk, newsletters, email and direct mailing throughout in the year keeping thern well infomed of what is happening. Page 2
Blue Texel Sheep Soclety Trustees. Report for the Year Ended 31 December 2024 FINANCIAL REVIEW Investment poll¢y and oblectives The trustees do not have an investment policy. All fvnds a currenily held wth the charity bankers. Resetves pollcy The Truslees policy is to review the reseNe levels of the charity on an annual basis. This review wll encompass the nature of the income and expenditure streams, the need lo match income with commitments and the nature of the Charity's reserves. The trustees also take into consideration future plans of the Charity. the uncertainty over some elernents of future income streams and other key risk factors identified during the risk review process. Total income for the financial period amounted lo £145,120 12023.. £156.4101 with expenditure of £121.956 12023. £128,187) resulting in a surplus of £23,164 12023.. £28,223.) This results in a nel fvnd balance of £190,434 at the year end. The trustees nSider this resuft lo be sali$factory. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goveming document, a deed of trust and conslilutes an uninwrporated charity-The constitution of the SOetY states that the number of Trustees shall be not less than five but not be more than thirteen. One third of the Trustees shall rets're annually. in rotation, but be eligible for re4lection at the AGM. The Trustees may appoint any person who has been nominated by tsvo members and who is wlling to act as a Trustee. Each of the Trustees shall retire with effect from the ¢onclu$ion of the annual general meeting next after his or her appointment bul shall be eligible for re election at that annual general meeting.Trustees are inducted through a process of best practice. They have the opportunity to meet. study and understsnd the organisation and clarify their roles and responsibilities. The Tfustees are selected for their contribution, $kill$ and expertise thal they Can bring lo manage the organi$alion. Approved by the Trustees On 16 July 2025 and signed on their behalf by.. H Jewtt Trustee Page 3
Blue Texel Sheep Society Trustses, Responsibilities in relation to the Financial Statements The Iru5tees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resourtss and application of resources of the charity for that period. In preparing these finanaal stalements, the trustees are required to.. select suitable accounting policies and then apply them consistently.. obseNe the methods and principles in the Charities SORP., make judgements and estimates that are 8$Onable and pmdent.. state whether applible accLiunting standards have been followed. subject to any rnaterial departures disclosed and explained in the financial statements", and prepare the financial statements on the going concem basis unless il is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financsal position of the charity and enable them to ensure that the finanaal statements comply wth the Chanties Act 2011 as amended by the Charities Act 2022, the Charity IA¢¢ount$ and Reports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hen for takir>g reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
Independent Examiner's Report to the Trusteos of Blue Texel Sheep Society I report on the accounts of the charity for the year ended 31 December 2024, which are sel out on pages 6 to 14. Your attention is to drawn to the fact that the Charity has prepared the financial statements in a¢¢ordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Ac¢ounting and Reporting by Charities- Statsment of Recomrnended Practic£ issued on 1 April 2005 which is referred to in the extant regulations but has since been withdravffl. We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally ACpIed Accounting Practi effective for reporting periods beginning on or after l January 2019. Respectlve responsibilities of trustees and examiner The Charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit 1$ not required for this year under section 144121 of the Charities A¢t 2011 as amended by the Charities Act 2022 (the Act) and thal an independent examination 1$ needed. It is my responsibility lo.. examine the accounts under section 145 of the Act: follow the procedures laid down in the General Directions given by the Charity Commission under section 14515) Ibl of the Act,. and state whether particular matters have come to my attention. 8agis of Independent examlnetrs report My examination was Carried out in accordan wilh the General Directions given by the Charity Commission. An examination indudes a review of the accounting records kept by the charity and a comparison of the accounts presented vAth those records. It also includes consideration of any unusual item5 or disclosures in the accounts, and seeking explanations from you as trustees conceming any such matters. The prOdUreS undertaken do not provide all the eviden that would be required in an audit and consequently no opinion is given as to whether Ihe accounts present a 'true and fair vievl and the report is limited to those matters set out in the statemenl below. Independrt oxamlnerfs statement In connection wth my examination, no matter has come to my attention.. 111 which gives me reasonable c8use to believe that in any material respect the qUIrements.. to keep accounting records in accordance with section 130 of the Chafities Act 2011 as amended by the CharitiesAct 2022., and to prepare accounts which accord with the accounting records, comply wth the accounting requirement5 Of the Act have not been met,. or 121 to which, in my opinion, attention Should be drawn in order to enable a proper understsnding of the accounts lo be reached. FIEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW Joanne Thomlinso Dodd & Co Limited Chartered Auntsnt$ CA 16 July 2025 Page 5
Blue Texel Sheep Society ststement of Financial Activities for the Year Ended 31 December 2024 Unrestricted Totsl Funds Totsl Funds Funds 2024 2023 Note Income and endowments from: Other trading activities Investment income Charitsble activities Total income 1,975 1,237 141,908 145,720 1,975 1,237 141,908 145,120 4,380 979 151,051 156,410 Expenditurn on: Raising funds Charitable activities Total expenditure 3,466 118,490 121,956 3,466 118,490 121,956 3,721 124,466 128,187 Net movements in funds 23,164 23.164 28,223 Re¢onclllatlon of funds Total funds brought forward Total funds earried forward 167.270 190.434 167,270 190,434 139,047 167,270 The notes on pages 8 10 14 foffn an integral part of these finanual ststements. Page 6
Blue Texel Sheep Society Balanco Sheet as at 31 December 2024 2024 2023 Note Fixed a5s•ts Intangible assets 10 3,404 Current assets Stocks and work in progress Debtors Cash at bank and in hand 1,588 8.298 200.629 210,515 4.170 8,885 182,664 195,719 Creditors: Amounts falllng due withln one year 12 123,485) 128,449) Net current assets 187,030 167.270 Net assets 190,434 167.270 The funds of the charty: Unrfrstricted fundg Unrestricted income funds 190,434 167,270 Total charity fvndg The financial statements have been prepared in accordan vthh the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102}- 190,434 167,270 Approved by the Board on 16 July 2025 and signed on rts behalf by.. H Jewitt Trustee The notes on pages 8 to 14 fom an integral part of these financial statements. Page 7
Blue Texel Sheep Society Notes to the Financial Statements for the Year Ended 31 December 2024 Accountlng policies Slaternent of compllance The accounts (financial statements) have been prepared under the historical cost convention wth rtems recognised al cost or transaction value unless otheise slated in the relevant notelsl to these accounts. The financial statements have been prepared in accordance wth the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charrties Act 2011 as amended by the Charities Act 2022. The accounts Ifinaneial statements) have been prepared to give a 'true and faiff view and have departed from the Charities (Account5 and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordan wth the Financial Reporting Standard appIlble in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting by Charities'statement of Remmended Practice effective from 1 April 2005 which has since been withdrawn. Basis of prepardtion The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilitie9 are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy notes. Going concern These financial statements have been prepad on a going conrn basis. Fund accounting policy Unrestricted income funds are general fund5 that are available for use at the trustees, disuetion in furtherance of the objectives of the charity. Further details Df each fund are disclosed in note 14. Incorne and endowments Income from Govemment and other grants. whether'capital. grants or 'revenue' grants. is recognised when the charity has entitlernent to the funds, any perfomiance conditions attached to the grants have been met. it is probable that the income wll be received and the amount can be measured reliably and is not deferred. Income derived from events is recognised as eamed (that is, as the related goods or seNices are provided). Investment income is fecognised on a receivable basis. Income from charitable activities includes income recognised as eamed las the related goods or services are provided) under contract. Page 8
Blue Texel Sheep Society Notes to the Financial Statsments for the Year Ended 31 December 2024 . Gontirrued Expendlture Liabilities a recognised as soon as there is a legal or constructive obligation committing the charity to the expendf(ure. All expenditu is accounted for on an accruals basis and ha5 been classified under headings that aggregate all costs related to the category. Costs of raising funds a the costs of trading for fvndraising purposes. Charitable expenditure comprises Ih05e costs incurred by the charity in the delivery of rts acb'vities and seNices for its beneficiaries. It indudes both costs that Can be allocated directly to such adivitses and those cos15 of an indirect nature neSSary to support them. Grants payable are payments made to third parties in the furtherance of the charitsble objectives. Where the charity gives a grant wth conditions for its payrneTrt being a specific level of Servi or output to be provided, such grants are only recognised in the SOFA once the plent of the grant has provided the specific service or output. Grants payable without performance conditsons are only recognised in the accounts when a cornmitment has been made and there are no conditions to be mel relating to the grant which remain in the control of the chanty. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about eilherthe ts.ming of the grant or the amount of grant payable. Support Costs Support $ts include ntral functions and have been allocated to activrty cost categories on a basis consistent wth the use of resources, for example, allocating property costs by floor areas, or per capita, Staff costs by the time spent and other costs by their usage. Amortl¥atlon Amortisation is provided on intangible frAed assets so as to vnite off the cost, less any estirnated residual value. over their expected useful economic life a$ follows.. Website costs 3 years slraighl line Cash and Cash Equivalents Cash and cash equivalents ¢omprise cash on hand and call deposits, and other short-temi highly liquid investments that are readily convertible to a known amount of cash and are subject lo an insignificant risk of change in value. Stock Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Nel reali5able value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not induded in the financ4al statements until they are sold or distributed. Other trading actlvities Unrestricted Totsl Funds Total Funds Funds 2024 2023 Ralslng funds Merchandise sales 1.975 1,975 4,380 Page 9
Blue Texel Sheep Society Notes to th8 Financial Statements for the Year Ended 31 December 2024 . continued Investment income Unrestricted Totsl Funds Total Funds Funds 2024 2023 Bank interest re1vable 1,237 1,237 979 Charitsble activities Unrestricted Total Funds Totsl Funds Funds 2024 2023 Charitable activities Memberships Registrations and birth notifications Transfer fee Creditsldebits on grassroots accounts Society sale levy Joining fee Yearbook advertising Other income 31,705 89,836 10,188 182 6,197 1,340 2,460 31,705 89,836 10,188 182 6,197 1,340 2,460 31,290 100,520 10,468 110 7,538 1,135 iioi 151,051 141.908 141,908 Page 10
Blue Texel Sheep Soclety Notes to the Financial Ststements for the Year Ended 31 December 2024 . continued Expendlture Ralslng funds Charltable activities Total 2024 Total 2023 Direct costs Northem Club Opening stod¢ Purchases Cloging stock Insurance Grassrootg NSA Affiliation Refunds, sponsors, rosetts, gifts Society publications and AGM Sale expenses Leaflets Yearbook costs Meeting costs Advertising Trade stands Photography Secretarial fees Bank charge$ 1,000 1,01)0 4,170 4,170 941 6,950 14,1701 805 33.662 115 1.569 195 8.819 1,778 6,525 3,481 14,462 11.061 8,660 20,675 146 115,674 11.588) {1.5881 725 28,797 725 28.797 1.500 210 5.180 1.907 4.730 2.020 14.504 11.765 8,430 25,309 126 106,203 1,51)0 210 5,180 1,907 4,730 2,020 14,504 11,765 8,430 25,309 126 109.669 3.466 Support Costs Travelling Web fees Computer softsvare and maintenano $ts Printing. postage and stationery Sundry expenses Accountancy fees Independent examinerfs fee Legal and professional fees Direct debit charges PayPal bank fees 238 572 432 3,924 2,211 1,190 600 2,300 544 276 12,287 238 572 432 3,924 2.211 1.190 600 2,300 1,094 428 376 758 600 2,000 751 162 12,513 276 12.287 3,466 118,490 121.956 128.187 Grnnts to Inslltutlons Narno of Inst1110n Actlvfty Northem Club Charitable athvities 1,000 Page11
Blue Texel Sheep Society Notes to the Financial Statements for the Year Ended 31 December 2024 . Gontinued Govemance costs 2024 2023 Accountancy fees Independent examinerfs fee Legal and professional fees 1,190 600 2,300 4,090 758 600 2,000 3,358 Trustees. remuneratlon and expenses 1 Trustee received travel expenses totalling £238 in the year12023.' 3 Trustees 1Ved travel and postage expenses totalling £1.095.1 Taxatlon The gIstered charity is exempt from taxation on income and gains. 10 Intsnglble Ilxed assets Website costs Cost Additions 3,404 Net book value As at 31 December 2024 3.404 11 Debtors 2024 2023 Trade debtors Other debtors Prepayments and accrued Income 5,901 422 1,975 8,298 5,124 1,311 2,450 8,885 Page 12
Blue Texel Sheep Society Notes to the Financial Statements for the Year Ended 31 December 2024 . continued 12 Credltors: Amounts falling due wlthln one year 2024 2023 Trade credito Accruals and deferred income 9.775 13.710 23,485 16,515 11,934 28.449 13 Related partle$ Controlling entity The charity is controlled by the trustee& Related party trdnsactions A Bishop (Trusleel was paid £1,616 (2023.. £4,742) for sale inspections. There are no related party transactions involving any other tnjstees. 14 AnaWls of funds At31 December 2024 At 1 January 2024 Incoming resOue9 Resour¢e$ expended General Fund8 Unrestricted income fund 167,270 145,120 {121.9561 190,434 Page 13
Blue Texel Sheep SoGiety Notes to the Financial Statements for the Year Ended 31 Dec8mber 2024 . continued Pvlor period At1 January 2023 Resources expended At31 December 2023 In¢omin9 resources Genernl Funds Unrestricted income fund 139,047 156.410 1128,1871 167,270 15 Netassets by fund Unrestricted Funds Total Funds 2024 Total Funds 2023 Intangible assets Current assets Creditors.. Amounts falling due within one year Nel assets 3,404 210,515 123,4851 190,434 3,404 210,515 123,485} 190,434 195,719 {28,4491 167.270 Prlor perlod Unrestrlcted Funds Total Funds 2023 Totsl Funds 2022 Current assets Creditors.. Amounts falling due within one year Net assets 195,719 128,449) 167,270 195,719 128,4491 167,270 188,213 {49,1661 139,047 Page 14